Russia has warned that crude oil prices could reach $300 a barrel. A senior Russian minister said on Monday that Western countries could face oil prices exceeding $300 a barrel and the closure of the Russia-Germany gas pipeline. US Secretary of State Antony Blinken said Monday that oil prices rose to their highest level since 2008, after Washington and European allies were considering imposing sanctions on Russian oil imports. This is the highest level of crude oil in 14 years.
Rejection of Russian oil fatal to global market
Russian Deputy Prime Minister Alexander Novak said in a statement on state television, “It is quite clear that the rejection of Russian oil will have disastrous consequences for the global market. There will be an unexpected jump in prices. If not, it will be $ 300 a barrel.” ” Nowak said it would take Europe more than a year to replace the amount of oil it received from Russia and would have to pay a very high price. According to him, European politicians need to honestly warn their citizens and consumers what to expect.
Full right to ban gas pumping
Nowak said in the statement that if you want to deny the energy supply from Russia, then go ahead. We are ready for this. We know where we can send the volume. Nowak said Russia, which supplies 40% of Europe’s gas, was fully meeting its obligations, but it would be entirely within its rights to retaliate against the European Union as Germany had in the past. Months had stopped the certification of the Nord Stream 2 gas pipeline.
“With regard to banning Nord Stream 2, we have every right to make a matching decision and ban gas pumping through the Nord Stream 1 gas pipeline,” Novak said. He said that till now we are not taking any such decision. But European politicians are forcing us to go that way with their statements and accusations against Russia.